TECH - Tesla Signs 100MW Megapack Contract Worth $100M With New Zealand's Contact Energy | Benzinga
New Zealand energy retailer and generator Contact Energy said on Monday that it contracted EV giant Tesla Inc (NASDAQ:TSLA) to build a grid-scale 100-megawatt battery in Auckland for NZ$163 million($99.4 million.)
What Happened: The new battery storage system in Glenbrook will store excess renewable electricity when demand is low and will provide enough electricity to power 44,000 homes for more than two hours during winter when demand is high, Contact Energy said. The company also has the option to expand the battery capacity to 130MW at the site.
The company will start work at the Glenbrook site immediately with the battery expected to be commercially operational by March 2026, it added. While the New Zealand company will manage the overall project, Tesla will be responsible for the supply and commissioning of the battery in addition to long-term maintenance.
"The battery will supply power to ...